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DC Chargers Market Size Worth USD 239.09 billion at 13.5% CAGR by 2031 Key Players are - ABB, Delta Electronics, Borri S.P.A, Siemens Ag

05-15-2024 02:39 PM CET | Energy & Environment

Press release from: SNS Insider

DC Chargers Market Size and Share Report

DC Chargers Market Size and Share Report

Market Size & Growth Analysis

The DC Chargers Market, valued at USD 86.81 billion in 2022, is projected to reach USD 239.09 billion by 2030, growing at a CAGR of 13.5% from 2023 to 2030.

This substantial growth is driven by increasing adoption of electric vehicles (EVs), advancements in charging infrastructure, government incentives for EV purchases, and rising awareness of environmental sustainability. Enhanced technological innovations, such as faster charging capabilities and improved battery management systems, are also fueling market expansion. Additionally, partnerships between automotive manufacturers and charging network providers are enhancing accessibility and convenience, further propelling market growth.

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KEY PLAYERS:

- ABB Ltd.
- Aeg Power Solutions (3w Power S.A.)
- Borri S.P.A (Legrand Group)
- Delta Electronics Inc.
- Helios Power Solutions Group
- Hitachi Hi-Rel Power Electronics Private Ltd. (Hitachi Ltd.)
- Kirloskar Electric Company Ltd
- Phihong Technology Co. Ltd.
- Siemens Ag
- Statron Ltd

Several key trends are shaping the future of the DC chargers market:

- Ultra-Fast Charging: The demand for ultra-fast chargers, which can deliver up to 350 kW or more, is increasing. These chargers can replenish an EV battery to 80% capacity in 15-20 minutes, addressing range anxiety and improving user convenience.
- Integration with Renewable Energy: Integration of DC chargers with renewable energy sources like solar and wind power is becoming more prevalent. This not only promotes green energy usage but also helps in reducing the grid load during peak times.
- Smart Charging Solutions: Smart charging solutions that incorporate features like load management, predictive maintenance, and real-time data monitoring are gaining traction. These solutions enhance the efficiency and reliability of charging networks.
- Vehicle-to-Grid (V2G) Technology: V2G technology, which allows EVs to discharge energy back to the grid, is emerging as a key trend. This technology can help stabilize the grid, especially when integrated with DC fast charging infrastructure.
- Public and Commercial Charging Infrastructure: The expansion of public and commercial charging stations is a major trend. Companies are investing in installing DC fast chargers at strategic locations like highways, shopping centers, and workplaces to facilitate widespread EV adoption.

Key Takeaway from DC Chargers Market Study:

A detailed study of the DC chargers market highlights the importance of infrastructure development in supporting EV growth. The study underscores that the availability of fast charging infrastructure is crucial for alleviating range anxiety and encouraging more consumers to switch to electric vehicles. Additionally, the study points out that partnerships between automakers, utility companies, and charging infrastructure providers are essential for the successful deployment and operation of DC charging networks.

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Recent advancements in the DC chargers market include:

- Technological Innovations: Companies are developing new technologies to increase the efficiency and power output of DC chargers. For instance, advancements in silicon carbide (SiC) technology are enhancing the performance of DC fast chargers.
- Strategic Partnerships: Automakers and charging network operators are forming alliances to expand charging infrastructure. For example, Volkswagen's Electrify America and Tesla's Supercharger network are rapidly increasing the number of DC fast charging stations across various regions.
- Government Initiatives: Governments worldwide are implementing policies and funding programs to support the deployment of DC fast chargers. The European Union's Green Deal and the US Infrastructure Investment and Jobs Act are notable examples.

The DC chargers market is influenced by a combination of technological, economic, and regulatory factors:

- Technological Advancements: Continuous innovation in charging technology, including higher power output and improved efficiency, drives market growth.
- Economic Factors: The cost of EVs and DC chargers, along with the availability of subsidies and incentives, significantly impacts market dynamics.
- Regulatory Environment: Government policies promoting clean energy and reducing carbon emissions are crucial for market expansion. Regulations mandating the installation of charging infrastructure in new buildings and public spaces also play a significant role.
- Consumer Demand: Increasing consumer demand for fast and convenient charging solutions is a primary driver for the market.

Regional developments in the DC chargers market reflect varying levels of EV adoption and infrastructure investment:

- North America: The US and Canada are seeing significant investments in DC fast charging infrastructure, supported by federal and state incentives. Companies like Electrify America and ChargePoint are expanding their networks.
- Europe: Europe is a leader in EV adoption and charging infrastructure, with countries like Norway, Germany, and the Netherlands at the forefront. The European Union's stringent emission regulations and the Green Deal are propelling market growth.
- Asia-Pacific: China is the largest market for EVs and DC chargers, driven by strong government support and aggressive EV adoption targets. Japan and South Korea are also investing heavily in charging infrastructure.

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Impact of Recession:

Economic recessions can have mixed impacts on the DC chargers market. On one hand, reduced consumer spending can lead to slower EV sales, potentially dampening demand for charging infrastructure. On the other hand, government stimulus packages aimed at economic recovery often include investments in green infrastructure, including EV charging networks. Moreover, as businesses and consumers become more cost-conscious, the long-term savings associated with EVs and the availability of efficient charging solutions can sustain market momentum.

Table of Content - Analysis of Key Points

Chapter 1. Executive Summary
Chapter 2. Market Definition and Scope
Chapter 3. Global Market Dynamics
Chapter 4. DC Chargers Market Impact Analysis
Chapter 5. Value Chain Analysis
Chapter 6. Porter's 5 forces model
Chapter 7. PEST Analysis
Chapter 8. DC Chargers Global Market, by Power Output
Chapter 9. DC Chargers Global Market, by End-Use
Chapter 10. Regional Outlook
Chapter 11. Competitive Intelligence
Chapter 12. Key Companies Analysis
Chapter 13. Research Process

Continued…

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Contact us:
Akash Anand
Head of Business Development & Strategy
info@snsinsider.com
Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

About Us:
SNS Insider has been a leader in data and analytics globally with its authentic consumer and market insights. The trust of our clients and business partners has always been at the center of who we are as a company. We are a business that leads the industry in innovation, and to support the success of our clients, our highly skilled engineers, consultants, and data scientists have consistently pushed the limits of the industry with innovative methodology and measuring technologies.

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